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Power Tool Sales and Marketing Strategies for B2B Retailers Power tools are a staple for both professional and consumer use The demand for power tools is at or near prepandemic levels despite a slowdown owing to the COVID19 outbreak in 2021 Home Depot is the leader in the sales of power tools based on dollar share Lowes is not far behind Both are competing with power tools manufactured in China Tip 1 Make a commitment to a brand Many manufacturers of industrial products place an emphasis on sales and marketing This is because a longterm sales requires a lot of backandforth communication and a thorough understanding of the product This type of communication is not conducive to emotional marketing tactics However industrial tools manufacturing companies must rethink their approach to marketing The digital world has surpassed traditional manufacturing companies that rely on a select group of retailers and distributors for sales A key to selling power tools is brand loyalty If a client is loyal to a brand they are less sensitive to communications from competitors Additionally they are more likely to buy the product of the client again and recommend it to others To make a successful impact in the United States market you must have an organized strategy This means adapting your tools to meet the local requirements and positioning your brand in a competitive manner and leveraging marketing channels and distribution channels It is also important to work with local authorities and industry associations as well as experts When you do this you can ensure that your power tools comply with the countrys regulations and standards Tip 2 Be aware of Your Products In a market where product quality is important retailers should know the products they sell This will allow them to make informed choices about what they can offer their customers This knowledge can make the difference between making a successful or bad sale For instance knowing that a tool is best suited to specific projects will help you match your customer with the best tool to meet their needs Youll build trust and a sense of loyalty among your customers This will help you feel confident that youre providing a complete service Understanding DIY culture trends can also help you better understand your customers needs For instance increasing numbers of homeowners are completing home renovation projects requiring the use of power tools This could lead to an increase in sales of these tools According to Durable IQ DeWalt leads in power tool unit share which is 16 however Ryobi and Craftsman brands have seen their share decline yearoveryear Despite this sales in stores and online are on the increase Tip 3 Offer FullService Repair The majority of consumers purchase power tools to replace a broken one or to tackle an upcoming project Both present opportunities for upsells and additional sales According to the Home Improvement Research Institutes HIRI 2020 Power Tools and Accessories Product Purchase Tracking Study 35 percent of purchases of power tools resulted from a planned replacement The customers might require additional accessories or upgrade to a higherperforming model Whether your customer is an experienced DIYer or just starting out in the hobby theyll require replacement of their power tools carbon brushes drive belts and power cords over time Keeping up with these essentials will allow your customer to get the most value from their investment Technicians take into consideration three main aspects when buying power tools the application the way it will be powered and safety These aspects help technicians make informed choices when it comes to selecting the right tools for their maintenance and repair work This helps them maximize the effectiveness of their tool and reduce the cost of owning it Tip 4 Continue to Keep Up with Technology The most recent battery tools for instance offer smart technology which enhances the user experience and differentiates them from competitors who still rely on oldfashioned battery technology Wholesalers in B2B who carry and sell these devices can boost sales by targeting professional and techsavvy contractors For Karch whos business has more than three years of experience and a 12000squarefoot tool department keeping up with the latest technology is vital He says that manufacturers are constantly changing their product designs They used hold their designs for 5 or 10 years but now they change them each year B2B wholesalers must not only adopt the latest technology but also improve existing models For instance by adding adjustable handles and lightweight materials they can help reduce the fatigue that comes from prolonged use These features are important for many professionals who have to utilize the tools for lengthy periods of time The industry of power tools is divided into professional and consumer groups which means that major players are always working on improving their designs and developing new features to reach an even larger audience Tip 5 Create a point of Sales The online marketplace has transformed the power tools market Data collection techniques have improved and business professionals can get a better understanding of the market This allows them to create more effective marketing and inventory strategies Utilizing information from the point of sale POS you can track DIY projects that customers complete when purchasing power tools and accessories Knowing the types of projects that your customers are working on allows you to offer additional sales and opportunities to upsell It also allows you to anticipate the requirements of your clients making sure you have the right products in stock You can also use transaction data to determine trends in the market and then adjust production cycles in line with these trends For instance you can use this data to track fluctuations in your brands and retail partners market shares This will allow you to align your strategy for product to the preferences of consumers POS data can also be used to improve levels of inventory reducing the risk of overstocking It can also assist you to assess the effectiveness of promotions Tip 6 Make an Point of Service Power tools is a lucrative complex market that requires significant sales and marketing efforts to stay competitive In the past gaining a competitive advantage in this market was achieved by establishing prices or positioning of products However these tactics are no longer effective in todays multichannel environment where information is easily available to be shared Retailers who make a point of providing excellent service are more likely to retain customers and develop brand loyalty Mike Karch the president of Nues Hardware and Tools in Menomonee falls Wisconsin runs a 12000 square foot power tool section His department initially featured several brands However as he listened to contractors he noticed that they were loyal to their preferred brand To be successful in their business Karch and his team first ask their customers what they want to do with the tool before showing them the options available This gives them the confidence to recommend the best tool for the job and also builds trust with the customer Customers who know their product well are less likely to blame their vendor for a tool failure during the course of work Tip 7 Become a master of customer service The market for power tools has become a very competitive area for retailers of hardware People who succeed in this area tend to be more loyal to a single brand rather than to carry a variety of manufacturers The amount of space a retailer is able to devote to a specific category could determine the number of brands they are able to carry When customers come in to purchase power tools they often need help selecting the right product Whether they are replacing an old one damaged or undertaking a renovation project clients require expert advice from sales associates Mike Karch the president of Nues Hardware and Tools located in Menomonee Falls Wisconsin said that his stores staff is educated to ask questions that can result in the sale He says they start by asking the buyer what they plan to use the product Thats the way to determine the type of tool you need he says Then they ask about the customers experience with different types projects and the project Tip 8 Create an End of Warranty The manufacturers of power tools differ greatly in their warranty policies Some are fully complete while others are stingy or refuse to cover certain aspects of the tools at all Its important for retailers to know these differences before making a purchase because customers will purchase tools from companies that back them up Mike Karch president of Nues Hardware and Tools in Menomonee Falls Wisconsin has a 12000 squarefoot power tools department as well as an inhouse repair shop that handles 50 lines of tools He has discovered over the years that many of his customers who are contractors are brand loyal so he focuses on the most popular brands rather than offer a wide range of products He also likes the fact that his employees have the opportunity to have oneonone meetings with vendors to discuss new products and give feedback This type of personal interaction is crucial as it helps create trust between the retailer and customers Good relationships with suppliers may even result in discounts for future purchases